Healthcare Asset Management Market - Growth, Trends, and Forecast (2019 - 2024)

The Healthcare Asset Management Market is segmented by Application (Staff Management, Equipment Tracking, Patient Tracking, Supply Chain Management), End User (Hospital/Clinic, Laboratory, Pharmaceutical), and Geography.

Market Snapshot

Market Growth_Healthcare Asset Management Market
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

30.0%

Key Players:

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Market Overview

The healthcare asset management market is expected to register a CAGR of over 30.0% during the forecast period 2019 - 2024. The main benefits of automation are that it creates more opportunities in every industry, improve operations, and reduces cost effectively. Also, the adoption of Artificial Intelligence, which enables quick analysis through the dashboard benefits the organization in doing fluent operations.

  • Pharmaceuticals have vital importance in the heathcare system of every country. But the cases of pharmaceutical counterfeits have been increasing year on year globally. The protection of pharmaceuticals is necessary for any company to retain its client, revenue growth, and brand reputation. WHO estimated 116 thousand deaths occurred due to pharmaceutical counterfeits in sub-Saharan Africa.
  • Healthcare asset management solutions allow us to manage them effectively and reduces the risk of counterfeits. Hence, the rise in awareness to avoid such incidents is driving the market for asset management in healthcare.
  • The condition of the patient can change in a minute in critical situations, and with that, if the efficiency of the operations is low, the patient can lose a life. The rise in need of improving the hospital operation efficiency is also another factor for the asset management market in the heathcare system.
  • However, the existing old healthcare infrastructure and data privacy concerns are few restricting factors implementation of these systems.

Scope of the Report

The healthcare industry is going through changes where BYOD is becoming more popular, competition for funding is increasing, and new technologies, such as the cloud, are being adopted.  On the marketing front, the proliferation of marketing assets (photos, video etc.) has caused havoc for the healthcare organizations. Typically, these organizations have more stringent security and compliance requirements than most other industries.
By Application
Staff Management
Equipment Tracking
Patient Tracking
Supply Chain Management
By End User
Hospital/Clinic
Laboratory
Pharmaceutical
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Application in Hospitals and Pharmaceuticals to Witness Significant Growth

  • The asset management systems at pharmacies procurement has reduced the reach of counterfeit incidences at the venue. Globally, the pharmaceutical counterfeit incidences grew by 11.5% in 2017, which was more than 60% growth since 2014, according to the Pharmaceutical Security Institute.  
  • The use of integrated platform solutions helps in tracking the pharmaceutical equipment and reduced the lead time in search of these items. The study has shown that the use of asset management solution can reduce the equipment search time from 30 minutes to 2 mins.
  • The asset management also monitors the regular check on maintenance and calibration of medical machines and enables the deployment of preventive maintenance of these machines and streamlines the process.
Pharmaceutica Counterfeit Incidences

To understand key trends, Download Sample Report

North America to Dominate the Market Growth

  • The availability of robust healthcare infrastructure has propelled the demand for hospital asset management solutions, as its immediate implementation is possible. The region has been one of the early adopters for IT infrastructure. According to Internet World Stats, the penetration stands at 89.4% of the population, which increases the deployment of asset management solutions in heathcare.
  • Moreover, North America accounts for more than 40% of the global pharmaceutical industry. Also, the growing awareness about the benefits of deploying asset management systems at healthcare and with that increase in demand for the market can be seen in the recent future.
  • Hence, the rise of the pharmaceutical industry in the region is driving the demand for healthcare asset management market.
Regional Growth_Packaging Automation Market

To understand geography trends, Download Sample Report

Competitive Landscape

The competition in the market is high as a significant share of the market lies with the major market players. Innovation in the market requires the developers to have a better understanding of the process to deliver a suitable solution and also drives close collaboration among the healthcare stakeholders during development, customization to suit the end users need.

  • Feb 2019 - Kathrein Solutions GmbH specializes in RFID solutions introduced the new RTLS system K-RLTS that combines high localization accuracy in an industrial environment with unique technical features which allows a broad application of the system in various applications. 
  • Sept 2018 - TRIMEDX announced to acquire Aramark’s healthcare technologies business. Aramark HCT provides healthcare technology services, ranging from repair and maintenance to outsourcing of clinical engineering services, to more than 500 healthcare providers nationwide. The acquisition of Aramark HCT allows TRIMEDX to deliver its proprietary technology-driven solutions to a broader set of healthcare provider customers.

Major Players

  1. Stanley Security Solutions, Inc.
  2. CenTrak, Inc.
  3. AiRISTA Flow, Inc.
  4. GE Healthcare Inc.
  5. IBM Corporation

* Complete list of players covered available in the table of contents below

Market Concentration_Packaging Automation Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Demand with Increasing Concerns of Drug Counterfeiting

      2. 4.2.2 Need to Increase Efficiency in Healthcare Institutions

      3. 4.2.3 Growing Concerns for Patient Safety

    3. 4.3 Market Restraints

      1. 4.3.1 Data Privacy Concerns

      2. 4.3.2 Organizational and Infrastructural Facility of Healthcare Institutions Affecting Implementation

    4. 4.4 Industrial Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Staff Management

      2. 5.1.2 Equipment Tracking

      3. 5.1.3 Patient Tracking

      4. 5.1.4 Supply Chain Management

    2. 5.2 By End User

      1. 5.2.1 Hospital/Clinic

      2. 5.2.2 Laboratory

      3. 5.2.3 Pharmaceutical

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 UAE

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Stanley Security Solutions Inc.

      2. 6.1.2 CenTrak Inc.

      3. 6.1.3 AiRISTA Flow Inc.

      4. 6.1.4 GE Healthcare Inc.

      5. 6.1.5 IBM Corporation

      6. 6.1.6 INFOR, INC.

      7. 6.1.7 Motorola Solutions, Inc.

      8. 6.1.8 Siemens Healthcare AG

      9. 6.1.9 Accenture PLC

      10. 6.1.10 Sonitor Technologies, Inc.

      11. 6.1.11 Zebra Technologies Corporation

      12. 6.1.12 Tyco International Ltd.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please Enter a Valid Message!


Complete your payment details below

Shipping & Billing Information

Payment Information